Welch will be the third panellist from the long-running daytime programme to star on the show, following Andrea McLean in 2006 and Coleen Nolan in 2009.
"No, no I'm not," Welch said when asked if she would be competing to make it further than them. "I would honestly say I'm not competitive at all.
"It's not about competing with the others, it's just about doing your best."
Welch also confirmed that her castmates from Loose Women would all be coming down to support both her and former panellist Nadia Sawalha when the show starts.
"They're all going to come down though," she told DS. "They'll be a right gaggle of 'Looseys' there!"
Dancing On Ice begins on January 6, 2011 on ITV1.